Chart of the Day: From its humble beginnings in 1993 the Chinese market now has more than 3,000 listed companies. Meanwhile, the rest of the world has seen a fall in the number of listed companies.
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Global Equity FVMR Snapshot: Emerging markets still look relatively cheap on PE and PB. Global markets have an ROE of 12.8%, driven by the US. Excluding US, the ROE is only at 10.6%.
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In our Top 5 this week, we look at the basics of asset allocation, discover why financial knowledge is useless, and examine out-of-sample testing. All this and more…
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Chart of the Day: Besides China A, the lowest USD returns have been in ASEAN markets. Taiwan and India beat HK due to currency impact. Return in Thailand was the poorest in local currency, USD return was more than double.
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After winning several high-stakes online gaming tournaments as a teenager, Mr. Peeradechapan reinvested his winnings in a roasted chestnut business. Later, he founded his deep-fried seaweed snack company that became an immediate success throughout Asia. He is already a business icon in Thailand, replete with a movie thinly based on his life.
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If the value of equity of a company is trading at a low 0.5x price-to-book value then the debt will appear as a large portion of capital. If the value of equity is trading at an expensive 4.0x then debt appears tiny. But debt never changed.
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How does an analyst forecast sales growth? What if a company is in a cyclical industry? What if the company has very volatile sales growth? Is it wrong to forecast a steady growth rate for each of the future years?
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In our Top 5 this week, we check out complacency in today’s bull market, search for the Holy Grail of active mutual fund investing, and discover the lure of pessimism. All this and more…
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It’s now 20 years ago the Asian Financial Crisis hit. Thailand was the epicenter of the 1997 Asian Financial Crisis. I had moved to Thailand in 1992, become a bank analyst in 1993 so I lived through the boom of that time.
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Over the course of 20 years, Yeap Swee Chuan has built a Thailand-based automotive conglomerate, AAPICO Hitech, that’s now gearing up to go global. A book that Mr. Yeap enjoys is Sun Tzu’s The Art of War.
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